I have a house next to me that has been vacant for over 2 years now and it somewhat interest me to buy and flip or even rent. This would be a great way to expand from my one rental. I am thinking more of a flip than rental since its next door to me. I don’t know a lot about foreclosures other than its bank owned, sold “as is” and could take a while to close. And you are stuck with any liens on the property.  I still need to do more research on foreclosures…

The house is in a good neighborhood. The condition of the house is good but needs cosmetics like paint, carpet, etc when I saw it over a year ago. The house is only 8 yrs old and what worries me or I question… Who is paying the taxes the last few years? If I bought this would have to pay back taxes then? The house is winterized and the furnace is running to keep the house from freezing so gas and electricity is on. So who is paying the utility bills? If I bought this would I have to pay the back utilities as well?  There is a company that comes and checks on the house every 2 weeks or once a month and keeps the lawn mowed every two weeks.  What other cost are there that im not aware of?